Define vulnerability in cyber risk management.

In cyber risk management, vulnerability is defined as a weakness in a system, application, or network that can be exploited by a threat, potentially leading to unauthorized access, data breaches, or other security incidents. This definition highlights the importance of identifying and addressing vulnerabilities to strengthen overall security posture.

By recognizing a weakness—whether it's an unpatched software flaw, misconfigured settings, or inadequate security controls—organizations can take proactive measures to mitigate these vulnerabilities, thus reducing the risk of a successful cyber attack. The focus is on the relationship between vulnerabilities and threats, where a threat can exploit a vulnerability to compromise a system's integrity, confidentiality, or availability.

Understanding this concept is critical for developing effective risk management strategies, ensuring that organizations not only defend against known threats but also work to minimize existing weaknesses in their systems.